The HDB has an ambitious plan for Singapore’s residents, launching no less than 5,795 BTO units, of which 1,502 units will be located in Bishan alone. These units will be apartments with two, three, four rooms, meant to suit the needs of various homeowners and families. The previously mentioned number of units will not be concentrated in one single area, as it will be spread across five different estates. This way, future homeowners will have the possibility to choose the area that answers best to their requirements. Launched on the 17th of November, this will be the last project of this kind of HDB for this year.
As it is easy to see, the area of Bishan enjoys the most consistent number of BTO units of this project. Named Bishan Ridges, the exact location of the new flats will be on Bishan Street 14. The Kallang River passes right next to it, providing beautiful scenery to the future residents. Also, the closest MRT station is just 5 minutes away, within a 400 meters distance from the residential unit. Thus, with the vicinity of the Bishan MRT station, residents won’t have any issues commuting to other parts of the city.
Are you wondering about the prices of these flats in Bishan? If you’re going for the option without grants, an apartment with three rooms will have prices starting at $374,000. In case you’re looking for a four-room apartment, prices will go from $528,000. In case you checked out other apartments in Bishan, like those located on Bishan Street 11, you’ll notice that the new BTOs on Street 14 are slightly more expensive. Probably the close proximity of an MRT station is driving prices up a little. When will these flats be ready? The estimated completion time frame for these units is 2026. Before the pandemic, when the project was first announced, the estimated completion date was initially set in 2025.
Where will the rest of the flats in this project be located? While Bishan will enjoy the largest number of flats, other areas will get new BTOs as well. Thus, homeowners will have the possibility to find these units in Tampines and Toa Payoh. Both of them are cities that haven’t reached their maturity just yet. Two development projects will take place in Toa Payoh, which means a total of 1,238 units, while Tampines will have only one project, summing up 750 flats. Tengah is another area that will enjoy such developments as well, two projects being scheduled for this estate. Thus, by 2026, Tengah residents or future residents will enjoy a total of 1,579 new flats. Sembawang will also feature 726 new BTOs.
Let us not forget that in August, a BTO sales exercise took place. During this exercise, it was noticed that flats with the biggest surfaces got the highest number of subscriptions. More precisely, these units, located then in Ang Mo Kio and Geylang, got 10 and, respectively, 14 times more subscriptions than it was estimated. Will the coming BTOs be that successful as well? We shall have to wait and see. For instance, future developments like the funeral parlor meant to be finished by 2025 in Toa Payoh may discourage some homebuyers to get homes there.
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